Clé France

Today's Currency Market Focus Includes:

GBP: Are we there yet?
EUR: Taking a backseat
USD: Losing momentum?

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GBP: Are we there yet?

Sterling ended the week on a high on hopes that a Brexit deal is getting “very close”. The EU’s Chief Negotiator, Michel Barnier, said that they are prepared to offer the UK a “super charged” deal on trade.

Theresa May must now convince her party that they too must compromise if a deal is to be reached.

Investors are still lacking any real details, so are being guided by words not actions. The Irish border is the elephant in the room and could still undermine the whole process.

Analysts are saying the EU Summit later this month is likely to be too soon for any deal to be formalised and a more likely timeframe would be in November. A lot could happen between now and then.

EUR: Taking a backseat

Events in the US and UK have overshadowed the Euro of late.

On Friday, German data was positive with a strong reading on Factory Orders. However, it was not enough to tempt buyers. There are still lingering fears over Italian politics, which remains a drag on the Euro.

USD: Losing momentum?

The Dollar lost momentum towards the end of last week as the much-awaited jobs data came in below expectations.

On the surface the jobs numbers looked good – the US economy added 134,000 jobs in September and unemployment fell to a 48-year low. However, this was the fewest jobs added in 6 months and earnings growth was only 0.3%.

The implication is that a softening US jobs market would take pressure off the Federal Reserve to keep raising rates – which would be negative for the Dollar.

Thanks For Reading, What Next?

To discuss current exchange rates and currency purchasing strategies, please contact your trader today on 01872 487 500.

If you don't yet have an account please request a free quote and we’ll look after you from there.

Have a great day,

Geoff Lambourne - Direct Dial me on 0044 (0)1872 487 470.

Current rates: 

Monday 8th October 2018 at 11:15

£1.00 GBP = 1.1381 EURO

£1.00 GBP = 1.3058 USD

£1.00 GBP = 1.8500 AUD

£1.00 GBP = 2.0248 NZD

£1.00 GBP = 1.6981 CAD

£1.00 GBP = 19.4687 ZAR

Need to Send Money Abroad?

At Clé France, many of our customers have a need for currency exchange.

We are pleased to have partnered with Key Currency to offer our customers favourable exchange rates on international currency transfers.

Key Currency is an award-winning currency exchange specialist, Key Currency Limited is authorised and regulated by the Financial Conduct Authority as an Authorised Payment Institution (Financial Services Register No. 753989) and experienced in executing high-volume transactions.

As a Clé France website visitor, you qualify for preferential exchange rates when you transact through Key Currency.

Save money on your foreign currency transfers

Key Currency can save you money by offering more competitive rates of exchange than retail banks.

Clients can typically save you 3-4% of the total transaction value, which can result in significant cost savings.

All client funds are held in segregated accounts with top-tier banks keeping your money safe and secure.

Download our "Buying A Property in France" Guide PDF document.

Concerned about Brexit? download our "Buyers Guide to Brexit" PDF document.

For everything you need to know about French property visit www.clefrance.co.uk

Today's Currency Market Focus Includes:

GBP: The enemy within
EUR: Italy goes for broke
USD: Trump gets his way again

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GBP: The enemy within

Sterling dipped late last week as the latest GDP (economic growth) data came in below expectations.

This week all attention will be on the Conservative party’s annual conference.

The party remains deeply divided over Brexit and Theresa May will be fighting the enemy within. Let’s hope she performs better than last year’s “car crash” speech.

EUR: Italy goes for broke

The Euro was hit hard last week after the Italian government passed plans to run a huge budget deficit.

The Italian finance minister got overruled by his new “populist” coalition partners, who have decided to ignore the lessons from the past and try to spend their way out of trouble.

There’s not a lot the rest of the EU can do other than frown and tut-tut. As Italy is one of the EU’s big four, it heightens the risk of political instability which will lessen the appeal of the Euro.

USD: Trump gets his way again

President Trump loves to negotiate hard. His threat to kick Canada out of NAFTA seems to have done the job.

The press is reporting that the US and Canada have reached a new trade agreement – with US dairy farmers getting greater access to Canadian markets – exactly what Trump demanded.

While this is good news for the US, the irony is it will cause Dollar weakness as risk sentiment improves and investors rotate out of safe-haven currencies like the Dollar.

Thanks For Reading, What Next?

To discuss current exchange rates and currency purchasing strategies, please contact your trader today on 01872 487 500.

If you don't yet have an account please request a free quote and we’ll look after you from there.

Have a great day,

Geoff Lambourne - Direct Dial me on 0044 (0)1872 487 470.

Current rates: 

Monday 1st October 2018 at 12:15

£1.00 GBP = 1.1238 EURO

£1.00 GBP = 1.3051 USD

£1.00 GBP = 1.8073 AUD

£1.00 GBP = 1.9758 NZD

£1.00 GBP = 1.6695 CAD

£1.00 GBP = 18.3803 ZAR

Need to Send Money Abroad?

At Clé France, many of our customers have a need for currency exchange.

We are pleased to have partnered with Key Currency to offer our customers favourable exchange rates on international currency transfers.

Key Currency is an award-winning currency exchange specialist, Key Currency Limited is authorised and regulated by the Financial Conduct Authority as an Authorised Payment Institution (Financial Services Register No. 753989) and experienced in executing high-volume transactions.

As a Clé France website visitor, you qualify for preferential exchange rates when you transact through Key Currency.

Save money on your foreign currency transfers

Key Currency can save you money by offering more competitive rates of exchange than retail banks.

Clients can typically save you 3-4% of the total transaction value, which can result in significant cost savings.

All client funds are held in segregated accounts with top-tier banks keeping your money safe and secure.

Download our "Buying A Property in France" Guide PDF document.

Concerned about Brexit? download our "Buyers Guide to Brexit" PDF document.

For everything you need to know about French property visit www.clefrance.co.uk 

Today's Currency Market Focus Includes:

GBP: Feeling the pressure
EUR: Rally fizzles out
USD: Fed on front foot

Click for a Quick Quote

GBP: Feeling the pressure

Brexit remains front and centre for Sterling. While publicly Theresa May is saying Britain is preparing for a hard exit, behind closed doors there seems to be a feeling that both sides are preparing to compromise. Or so we think.

With just over 6 months until Brexit day, pressure is mounting.

Perhaps Theresa May’s biggest obstacle is not the EU but her own party. The Conservative Party holds its annual conference next week and Brexit will be the dominant issue whether the PM likes it or not.

As we’ve seen over the past two years, sentiment towards Brexit can swing from positive to negative suddenly. It’s why investors need to take advantage of moves in their favour.

EUR: Rally fizzles out

The Euro has pressures of its own.

Yesterday the Euro took a tumble as the press reported that the Italian budget meeting would be delayed. This got investors thinking that the new government is heading for a bigger deficit – something that will cause plenty of friction in the EU.

Today we have Eurozone inflation (CPI) and German unemployment. Both are high impact numbers.

USD: Fed on front foot

As expected the Federal Reserve (Fed) raised rates for the third time this year.

But it was the wording that went with the decision that got the Dollar firing with the Fed hinting at a 4th hike in December. Markets seem to think we aren’t far off the last of the hikes though, which may put a handbrake on its upward momentum.

Thanks For Reading, What Next?

To discuss current exchange rates and currency purchasing strategies, please contact your trader today on 01872 487 500.

If you don't yet have an account please request a free quote and we’ll look after you from there.

Have a great day,

Geoff Lambourne - Direct Dial me on 0044 (0)1872 487 470.

Current rates: 

Friday 28th September 2018 at 16:45

£1.00 GBP = 1.1222 EURO

£1.00 GBP = 1.3043 USD

£1.00 GBP = 1.8016 AUD

£1.00 GBP = 1.9652 NZD

£1.00 GBP = 1.6846 CAD

£1.00 GBP = 18.4344 ZAR

Need to Send Money Abroad?

At Clé France, many of our customers have a need for currency exchange.

We are pleased to have partnered with Key Currency to offer our customers favourable exchange rates on international currency transfers.

Key Currency is an award-winning currency exchange specialist, Key Currency Limited is authorised and regulated by the Financial Conduct Authority as an Authorised Payment Institution (Financial Services Register No. 753989) and experienced in executing high-volume transactions.

As a Clé France website visitor, you qualify for preferential exchange rates when you transact through Key Currency.

Save money on your foreign currency transfers

Key Currency can save you money by offering more competitive rates of exchange than retail banks.

Clients can typically save you 3-4% of the total transaction value, which can result in significant cost savings.

All client funds are held in segregated accounts with top-tier banks keeping your money safe and secure.

Download our "Buying A Property in France" Guide PDF document.

Concerned about Brexit? download our "Buyers Guide to Brexit" PDF document.

For everything you need to know about French property visit www.clefrance.co.uk 

Today's Currency Market Focus

GBP: One step forward, one step back
EUR: Solid performer
USD: Fed set to raise rates this week

Click for a Quick Quote

GBP: One step forward, one step back

The only certain thing about Brexit is its uncertainty. After a bunch of positive noises last week, the process has taken a big step backward after EU leaders rejected Theresa May’s free-trade plan at their summit in Salzburg saying it “will not work”.

Theresa May has admitted the UK and EU remain a “long way apart” on several issues but has asked the EU to put forward their own ideas.

In terms of the economic calendar, it’s a quiet start to the week for the UK but Brexit news is likely to dominate Sterling action anyway.

EUR: Solid performer

The Euro was a solid performer last week despite a run of soft data. The latter half of last week saw French, German and EU data all miss estimates but it was events elsewhere that drove the Euro’s outperformance.

With the Pound hampered by Brexit and the US Dollar undergoing a correction, the EU has regained favour with investors.

In terms of this week, Mario Draghi, President of the European Central Bank (ECB) is due to give speeches on both Tuesday and Wednesday. His remarks tend to be high-impact events for the Euro.

USD: Fed set to raise rates this week

President Trump may not like it, but the Fed looks set to raise rates on Wednesday of this week – which would be for the 4th time since he was elected.

The odds of a hike stand at over 90%, so it looks baked in already, therefore we are not expecting the announcement to be a big catalyst for the Dollar.

Lately, trade tensions with China have overshadowed any US domestic news. While a Dollar correction was long overdue, some analysts have begun to call the bottom, particularly given the US is tightening while just about everybody else is sitting still.

Thanks For Reading, What Next?

To discuss current exchange rates and currency purchasing strategies, please contact your trader today on 01872 487 500.

If you don't yet have an account please request a free quote and we’ll look after you from there.

Have a great day,

Geoff Lambourne - Direct Dial me on 0044 (0)1872 487 470.

Current rates: 

Monday 24th September 2018 at 10:45

£1.00 GBP = 1.1149 EURO

£1.00 GBP = 1.3124 USD

£1.00 GBP = 1.8044 AUD

£1.00 GBP = 1.9688 NZD

£1.00 GBP = 1.9688 CAD

£1.00 GBP = 18.7408 ZAR

Need to Send Money Abroad?

At Clé France, many of our customers have a need for currency exchange.

We are pleased to have partnered with Key Currency to offer our customers favourable exchange rates on international currency transfers.

Key Currency is an award-winning currency exchange specialist, Key Currency Limited is authorised and regulated by the Financial Conduct Authority as an Authorised Payment Institution (Financial Services Register No. 753989) and experienced in executing high-volume transactions.

As a Clé France website visitor, you qualify for preferential exchange rates when you transact through Key Currency.

Save money on your foreign currency transfers

Key Currency can save you money by offering more competitive rates of exchange than retail banks.

Clients can typically save you 3-4% of the total transaction value, which can result in significant cost savings.

All client funds are held in segregated accounts with top-tier banks keeping your money safe and secure.

Download our "Buying A Property in France" Guide PDF document.

Concerned about Brexit? download our "Buyers Guide to Brexit" PDF document.

For everything you need to know about French property visit www.clefrance.co.uk 

Today's Currency Market Focus

GBP: Sterling climbs on Brexit hopes
EUR: Euro up despite sag in confidence
USD: Dollar loses its lustre 

Click for a Quick Quote

GBP: Sterling climbs on Brexit hopes

The Pound has continued its comeback this week.

Yesterday the latest UK retail sales figures were well ahead of expectations – more evidence that the UK economy is perking up.

But the bigger news story was Brexit-based. Cabinet Office Minister David Lidington made the astonishing claim that there is a 85-95% chance of getting a deal done with the EU and could be as early as next month.

Of course, that’s just his opinion, but there seems to be some optimism in the air. That may not last if someone in the government now says the complete opposite – something we’ve become accustomed to. With the October and November EU meetings fast approaching, words will need to turn into actions.

EUR: Euro up despite sag in confidence

The Euro recorded a strong session yesterday, trading up nearly 1% against the US Dollar and even overshadowing the rise in the Pound.

It was despite a rather poor reading on EU Consumer Confidence, which came in resoundingly negative.

However, with subsiding fears of global trade wars, the Euro enjoyed a relief rally as it has been hit harder than most.

USD: Dollar loses its lustre

As pre-warned, President Trump went ahead with tariffs on another $200 billion of Chinese goods. The Chinese duly retaliated with tariffs on around $60 billion of US goods. Simple arithmetic shows Trump was the winner of that skirmish.

The tariff rate imposed by the US was 10%. As traders were fearing it would be set at 25%, the news was taken as a positive for US-China relations and as such there was a sell-off in the Dollar (and other safe-haven currencies).

Is that the end of it? Doubt it. Trump has already warned there would be “phase three” if China retaliated and he also has mid-term elections coming up in November – so may want to show the voters who’s boss.

Thanks For Reading, What Next?

To discuss current exchange rates and currency purchasing strategies, please contact your trader today on 01872 487 500.

If you don't yet have an account please request a free quote and we’ll look after you from there.

Have a great day,

Geoff Lambourne - Direct Dial me on 0044 (0)1872 487 470.

Current rates: 

Friday 21st September 2018 at 13:00

£1.00 GBP = 1.1207 EURO

£1.00 GBP = 1.3181 USD

£1.00 GBP = 1.8094 AUD

£1.00 GBP = 1.9732 NZD

£1.00 GBP = 1.7031 CAD

£1.00 GBP = 18.9494 ZAR

Need to Send Money Abroad?

At Clé France, many of our customers have a need for currency exchange.

We are pleased to have partnered with Key Currency to offer our customers favourable exchange rates on international currency transfers.

Key Currency is an award-winning currency exchange specialist, Key Currency Limited is authorised and regulated by the Financial Conduct Authority as an Authorised Payment Institution (Financial Services Register No. 753989) and experienced in executing high-volume transactions.

As a Clé France website visitor, you qualify for preferential exchange rates when you transact through Key Currency.

Save money on your foreign currency transfers

Key Currency can save you money by offering more competitive rates of exchange than retail banks.

Clients can typically save you 3-4% of the total transaction value, which can result in significant cost savings.

All client funds are held in segregated accounts with top-tier banks keeping your money safe and secure.

Download our "Buying A Property in France" Guide PDF document.

Concerned about Brexit? download our "Buyers Guide to Brexit" PDF document.

For everything you need to know about French property visit www.clefrance.co.uk